Nine Companies Eye 40% in Bulgaria's MobilTel
A consortium of nine companies is eyeing a 40% stake in Bulgarian mobile operator MobilTel. A spokesman for Citigroup, which is overseeing the sale, Jeremy Hughes refused to name the companies.
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Real Estate Prices Shoot Up in Varna
Real estate prices in Bulgaria's main coastal city of Varna have been rapidly increasing this year. According to a report released by the National Statistics Institute, floorage price went up by an average of BGN 164 (EUR 84) per square meter over the pe
Bulgaria's FinMin Quits IMF Head Race
Bulgaria's Finance Minister Milen Velchev will withdraw his candidacy for the post of head of the International Monetary Fund after the European Union backed Spain's Rodrigo Rato. A day earlier EU presiding Ireland issued a statement saying that Spain's
Bulgaria Considers DISK Obligations Buy Back
Bulgaria might buy back the DISK obligations. That was announced by Bulgaria's Finance Minister Milen Velchev upon his arrival from London.
Eastern European Banks Boost Potential
Central and Eastern European banks shall keep the trend of operating more profitably than West European banks. According to a study of Bank Austria Creditanstalt, presented at the EBRD annual meeting in London, banking loans and deposits are expected to
Bulgarian Government Pushes for Open Procurement
Bulgaria is looking for effective implementation of amended procurement rules and adopting anti-corruption measures. The government, business and non-profit organizations have gathered Tuesday in Sofia to discuss the amended Procurement Act, which introd
Sale of Bulgaria's MobilTel Equity Greenlighted
The sale of the 40% stake in Bulgarian mobile operator MobilTel will be wrapped up in a month at the latest, according to reports.
Bulgaria Hires Lawyers over Bonds
Bulgaria seeks advice from lawyers in view of an expected dispute with the owners of USD 679 M of bonds with an interest rate, which is tied into the size of the country's GDP. In the worst case calculation, Bulgaria could owe USD 228 M in interest arrea
British American Tobacco Still Eyes Bulgartabac
Leading world tobacco company British-American Tobacco has once again confirmed its interest in the privatisation of Bulgarian tobacco giant Bulgartabac. Bulgaria's Economy Minister Lidia Shuleva held talks today with representatives of the major company
Bulgaria's Neighbour in Tourism Focus
A group of thirteen tour operators from the US, Britain, Italy, Germany, Bulgaria and Turkey are assessing Macedonia's tourism potential. Within a four-day visit the state Tourism Cluster will represent a project, aimed at promoting the country's natural
Bulgaria Air Direct to Prague
Bulgaria's flagship carrier Bulgaria Air will carry out its first direct flight to Prague on May 31, while a Varna-London-Varna line will be opened in June. The company will also open a direct line between Sofia and Milan in July.
Turkey's Opet to Invest EUR 70 M in Bulgaria
Turkish fuel distribution company Opet says it wants to invest EUR 70-80 M to boost its involvement in Bulgaria's petrol market. Opet Aygaz, owned by the Koc Holding consortium, will open more than 60 gas stations across Bulgaria over the next three year
Bulgaria's BTC Sale Complete "June 20"
Bulgaria set June 20 as the new deadline for completing its telecom sale.
Bulgarian FinMin Boosts Chances for IMF Chair
The chances of Bulgarian finance minister to take over the IMF chair are increasing as one of his main competitors Jean Lemierre has kept the helm of EBRD. The Frenchman has been reelected president by the bank's board of governors on Monday during their
Iraq Starving for Consumer Goods
The Iraqi market suffers mostly from insufficient medicines, second hand cars and faiaence goods. According to Vassil Vassilev, Chairman of the Bulgarian Employers Union, the Iraqis can afford a lot of things financially, but in fact they are unable to b
EBRD Releases EUR 40 M to Bulgarian Banks
The European Bank for Reconstruction and Development will release EUR 40 M for Bulgarian commercial banks to extend loans to small and medium-sized enterprises by the end of this year. The strategy of the European Bank for Reconstruction and Development
Romanian Cash for Second Danube Bridge
The Romanian government has greenlighted EUR 48.2 M project for the construction of a second Danube Bridge between the Bulgarian port of Vidin, 210 kilometers (130 miles) north of Sofia, and the Romanian port of Calafat.
Bulgaria Salmon Ban
The Bulgarian Agriculture Ministry banned the imports of salmon, caught in the Baltic Sea, due to the high levels of dioxin. The prohibition affects the imports from the EU member states and from the candidate countries.
"Record High Price" for 40% in Bulgaria's MobilTel
A price of EUR 600 M - EUR 700 M has been negotiated for the sale of 40% stake in Bulgarian mobile operator MobilTel, according to reports.
No Exact Date for 3rd GSM Licence Issue
Bulgaria's Commission for the Protection of Competition (CPC) announced no specific date for the issue of the third GSM licence. CPC Head Petko Nikolov said that he couldn't tell when will the commission decide over Bulgaria's Communications Regulation C
Bulgaria's Foreign Debt Up by EUR 158.1 M
Bulgaria's gross foreign debt amounted to EUR 10, 49 B in the end of February. According to the Bulgarian National Bank the foreign debt has gone up by EUR 158,1 M or 1,5% as compared to the end of 2003 when the GDP stood at EUR 10,33 B,
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